Expo 2030 Riyadh and Mohammed Al Habib Real Estate Company Sign a 3.2 billion SAR Joint Venture Agreement to Develop and Deliver Expo Village

RIYADH, Saudi Arabia--(BUSINESS WIRE)--Sep 14, 2026--

Expo 2030 Riyadh and Mohammed Al Habib Real Estate Company (MAHR) have signed a 3.2 billion SAR joint venture agreement for the development and delivery of the Expo Village, the residential community for Expo 2030 Riyadh. The agreement represents the first joint venture milestone for Expo 2030 Riyadh and reinforces its commitment to partnering with the private sector to unlock economic opportunities and create lasting value, both in the lead-up to the Expo and well beyond the event itself .

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The Expo Village will provide purpose-built accommodation for Official Participants and delegations within a fully integrated sustainable district. Designed to offer a convenient and comfortable living environment, the Village will support international participants throughout their stay and enable the smooth operation of their presence at Expo 2030 Riyadh. Featuring around 2,300 residential apartments with capacity to accommodate around 5,500 residents, the development will be supported by a range of retail and dining spaces, amenities, services and operational facilities, and will provide optimal connectivity to the Expo 2030 Riyadh site through the Expo metro station, King Khalid International Airport and Riyadh’s wider transport network.

The agreement was signed by Talal Al-Marri, Chief Executive Officer of Expo 2030 Riyadh, and Abdullah Mohammed Al Habib, Chief Executive Officer of Mohammed Al Habib Real Estate Company, at the Expo 2030 Riyadh site, where development and construction works continue to advance at pace.

The signing took place in the presence of Saad Al-Kroud, Head of Local Real Estate Investments at the Public Investment Fund, and Chairman of the Executive Committee of the Board of Directors of Expo 2030 Riyadh Company.

Commenting on the announcement, Talal Al-Marri, CEO of Expo 2030 Riyadh, said: “The Expo Village represents an important step in the delivery of Expo 2030 Riyadh and reflects our approach to building effective partnerships with the private sector, leveraging its expertise, capabilities and investment as a strategic partner in delivery. As implementation accelerates and work progresses across the Expo 2030 Riyadh site, we continue to develop the infrastructure, services and facilities required to meet the needs of official participants.

Through this agreement with Mohammad Al Habib Real Estate Company, the Expo Village is moving into an advanced stage of delivery, following the completion of design and site preparation works, paving the way for construction to begin in line with the approved schedule. The Expo Village will provide international participants with a high-quality, integrated residential environment during the event, before transitioning into a permanent residential community after Expo. In doing so, it will contribute to the long-term legacy of Expo 2030 Riyadh and create lasting economic and urban value for the city of Riyadh.”

Abdullah Mohammed Al Habib, CEO of MAHR,said: “This agreement represents a major milestone for Mohammad Al Habib Real Estate. We are proud to support the preparedness of Expo 2030 Riyadh and to draw on over fifty years of experience to create a comprehensive residential project that matches the significance of this international event.”

He added: "We see this project as a unique addition to Expo 2030 Riyadh, offering an experience deserving of the city and its visitors. It is based on a real estate development approach focused on high standards in planning, execution, and operations, ensuring lasting value that continues long after the exhibition ends.”

Designed from the outset for long-term use, the Expo Village will transition into an integrated residential community. Its mix of homes, retail, dining, leisure and community facilities, together with landscaped public spaces and pedestrian friendly streets, will support an active neighbourhood within the wider development of northern Riyadh. The development has been designed to incorporate climate-responsive principles and efficient building systems, to support long-term environmental and operational performance.

The Expo Village is the first residential development for which Expo 2030 Riyadh has signed a joint venture agreement, with further residential developments expected to follow as part of the Expo’s Legacy phase.

Expo 2030 Riyadh will take place from 1 October 2030 to 31 March 2031 under the theme “Foresight for Tomorrow.” The six-month World Expo is expected to bring together 197 Official Participants and is expected to welcome 42 million visits.

About Expo 2030 Riyadh

Running from 1 October 2030 to 31 March 2031, Expo 2030 Riyadh will be among the most ambitious World Expos ever conceived with a 6 million square meter site that will bring together 197 Official Participants and is expected to welcome 42 million visits across 5 distinct districts.

Held under the theme “Foresight for Tomorrow,” and hosted in Riyadh - a city of action and ambition - Expo 2030 Riyadh will provide a platform for participants to exchange ideas, shape solutions, and build partnerships that drive real impact, address global challenges, and unlock new opportunities. The World Expo will feature immersive cultural zones, daily activations, and AI-powered interactions, blending traditional Saudi hospitality with cutting-edge technology. Following the six-month event, the Expo site will evolve into a Global Village, continuing to attract visitors and contribute to Riyadh’s dynamic urban landscape.

For more information, please visit: https://www.expo2030riyadh.sa/en/

About Mohammed Al Habib Real Estate Company

Mohammad Al Habib Real Estate Company is a prominent developer in Saudi Arabia, founded in 1972, with more than fifty years of experience. Over time, it has expanded to include a comprehensive ecosystem that spans development, investment, management, and operation of real estate projects.

Throughout its journey, the company has completed a variety of projects including residential communities and commercial destinations. These developments are known for their high-quality planning and execution, enhanced by comprehensive facilities and services. They meet market needs and contribute to communities and destinations that deliver lasting, sustainable value.

For more information, please visit: alhabibinv.com

Expo 2030 Riyadh and Mohammed Al Habib Real Estate Company (MAHR) have signed a 3.2 billion SAR joint venture agreement for the development and delivery of the Expo Village, the residential community for Expo 2030 Riyadh

NEW YORK (AP) — Artificial-intelligence stocks are sliding worldwide Monday after leaders of the industry warned a slowdown is needed for the safety of humanity. Another jump in oil prices, meanwhile, sent the bond market to its latest pressure-raising milestone as the yield on the 10-year Treasury briefly touched 5% for the first time since 2023.

Despite all the downers for Wall Street, gains for many stocks outside AI helped limit the market's losses. The S&P 500 fell 0.6%. The Nasdaq composite, which has many more tech stocks, dropped a market-leading 0.7%, while the Dow Jones Industrial Average was down 209 points, or 0.4%, as of 11:30 a.m. Eastern time.

AI stocks have been under pressure a while because of worries their prices shot too high in the frenzy around the technology. The concerns jumped to another level over the weekend after one of the industry’s leading voices, Anthropic CEO Dario Amodei, called for a deliberate and global slowdown in the development of AI.

He cited safety issues, including the risk that AI becomes capable of leading a swarm of agents that could take over the entire internet within six to 12 months.

Nvidia, whose profits have soared because its chips are helping to train AI models, sank 3.1% and was the heaviest weight on the market because of its massive size.

SpaceX, which gets a chunk of its business from AI, fell 0.7% after Elon Musk said over the weekend that he agrees with Amodei. Softbank Group, the Japanese giant that is a major investor of OpenAI, lost 10.7% in Tokyo after OpenAI’s Sam Altman likewise supported the concept of a slowdown.

Altman also said in an interview with Fortune published Saturday that OpenAI would likely wait until next year for a sale of its stock on Wall Street, potentially delaying a gusher of cash for Softbank and other early investors in OpenAI.

In South Korea, the Kospi index dropped 3.3% due to losses for its two most influential stocks, Samsung Electronics and SK Hynix.

President Donald Trump played down the need for his administration to check the development of AI, saying he worried about ceding his country's edge over China in a global competition and that winning would help address the risks from the advancing technology.

Even with so many voices inside and outside the AI industry calling for a slowdown to protect humanity, Trump said on his social media network Monday that the only guardrail it needs “is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!”

Helping to limit Wall Street's losses on Monday were several software companies that tumbled earlier on worries AI-powered competitors would undercut their businesses.

Intuit, the company behind TurboTax and QuickBooks, rose 4.5%. Autodesk, whose software helps designers, climbed 6%, and Adobe added 3.5%.

Stocks in the oil industry also rose, including a 0.7% gain for ExxonMobil, following another jump in crude prices.

The price for a barrel of Brent crude rose 3.7% to $108.45 as fighting in the Middle East keeps squeezing the global flow of oil.

An important Saudi oil pipeline will mostly be out of service for weeks following an attack last week, two regional officials told The Associated Press. The pipeline offered a way for Saudi Arabia to shift exports to the Red Sea and avoid the Persian Gulf’s Strait of Hormuz, where Iranian attacks have stifled the movement of oil tankers.

Brent has jumped from less than $72 in early July as doubts rise that the United States and Iran can come to an agreement that would allow oil tankers to freely exit the Persian Gulf through the strait again.

While the prospect of a de-escalation of war in Iran may have dimmed, ING commodities strategists Warren Patterson and Ewa Manthey wrote in a commentary on Monday that the situation is still fluid and “sizable” volumes of oil have still been moving through the strait.

So far, the jump in oil prices has sent the average cost of a gallon of regular gasoline across the country to nearly $4.32 from $4.08 a month ago and $3.18 a year ago, according to AAA.

Such upward pressure on inflation has much of Wall Street expecting the Federal Reserve will hike its main interest rate on Wednesday at the end of its next meeting.

That’s the traditional way the Fed tries to rein in high inflation. Such a move then filters out through the rest of the bond market, slows the overall economy and undercuts prices for investments. That hopefully would remove some of inflation’s fuel, though Trump has been lobbying for lower interest rates instead of higher.

Besides high inflation, worries about rising debt for the U.S. and other governments and other concerns have sent longer-term Treasury yields to their highest levels in years.

The yield on the 10-year Treasury breached the 5.00% level during the morning for the first time in nearly three years. That's up from 4.96% late Friday and just 3.97% before the war with Iran began in February. It later pulled back to 4.96%.

The 10-year yield has not consistently remained above 5% since the turn of the millennium, and its jump has already made it more expensive for U.S. households and companies to borrow. That includes the highest average long-term mortgage rate in more than 14 months.

AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.

FILE - A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura, File)

A monitor shows the Nikkei 225 stock index in Tokyo Monday, Sept. 14, 2026. (Miyuki Saito/Kyodo News via AP)